Company Briefs: Spackman Entertainment Group

SPACKMAN ENTERTAINMENT GROUP

Spackman Entertainment Group has signed an agreement with Hong Kong-based investment holding company National Arts Entertainment and Culture Group (NAE).

The collaboration announced yesterday will help to create business opportunities and expand the group's business in China, Spackman said yesterday.

Spackman and NAE, which is listed on the growth enterprise market of the Hong Kong Stock Exchange, plan to form a 50-50 joint venture company with operations and offices in China and Korea.

Catalist-listed Spackman said the collaboration is not expected to have any material impact on the earnings per share or the net tangible assets per share of the group for this financial year.


CAPITALAND MALL TRUST

CapitaLand Mall Trust (CMT) is buying Bedok Mall from its sponsor CapitaLand. The deal values the mall at $780 million. CMT will also pay $3.1 million for other ancillary assets.

Bedok Mall, which is part of an integrated retail-residential-transport development, includes 583-unit condominium Bedok Residences. The CapitaLand project received its Temporary Occupancy Permit in May.

Its property yield is approximately 5.1 per cent, which is in line with CMT's distribution yield.


NAM CHEONG

Malaysian shipbuilder Nam Cheong will issue $75 million worth of 6.5 per cent, three-year, fixed rate notes under its $600 million programme, it said yesterday.

The notes, named Series 4 Notes, are expected to be issued on July 23 and to mature on July 23, 2018.

The company said the net proceeds from the issue will be used to partly refinance its $110 million 6 per cent fixed-rate notes due on Nov 5.

Nam Cheong shares closed down half a cent at 27.5 cents yesterday.

A version of this article appeared in the print edition of The Straits Times on July 15, 2015, with the headline 'Company Briefs: Spackman Entertainment Group'. Print Edition | Subscribe